tv Countdown to the Closing Bell With Liz Claman FOX Business February 9, 2015 3:00pm-4:01pm EST
sell individual pieces is worth more than the whole in entire entirety. don't throw anything of value away, especially your social security, everything is worth something, the lesson i've got. thanks, appreciate your time. i hope you're making money, countdown with liz claman is now. liz: international headlines punishing markets at this hour. there's fierce fighting in ukraine and what to do about it, that argument dominating the joint press conference with visiting german chancellor angela amerimerkel. the president said he would not rule out weapons to ukraine, something the german chancellor opposes. and there's a quest to renegotiate terms of a bailout package, germany says it hopes greece will remain part of the euro zone. and china slows down, imports
slowed 20% compared to last year. and there are a few bright spots to talk about. energy companies are breathing a sigh of relief thanks to a rise in oil prices, capping off a 9% gain in crude in the last three sessions. it's the last hour of trade. i'm liz claman, let's start the countdown. we're sitting here wondering what's pushing up the session lows and you've got to give that over to greece. worries over greece's debt negotiations shaking global markets today. started overnight. here is the greek stock market over the past year, over the past day, greek stocks tumbled after prime minister alexis revealed plans to undo austerity measures that were put into place contingent on them getting a bailout. that sent him on a collision course with the creditors.
earlier, german chancellor angela merkel here in the u.s. said preexisting plans should not be ignored. >> the institutions of the troika, the ecb, the european union commission and imf have agreed these programs are the basis of any discussion we have. i've always said, i will wait for greece to come with a sustainable proposal and then we'll talk about that. liz: yeah, the greeks are trying to change a program they've already signed. it's a new administration and they're saying, no, we're done with austerity. how is it impacting your money in the markets? >> we have traders of the new york stock exchange, and cme and nymex. we've got ukraine and greece. i give the award to greece, not that anybody wants an award for pulling the dow down session lows. tell me what is affecting the money in the u.s.? >> i think all three of them, you have a slowdown in asia,
little concerns over the ukraine, but it's really greece. this big game of chicken they've been playing has been running out of road and i think there are two big traders, you can talk about february 11th and the 16th. if they don't come up with a plan, that road is going to collide and i think everyone would rather see them stay in versus kicked out because if they get kicked out, no one knows the collateral damage and that's why we're a little off right now and volatility is higher. >> well, bill, i'm sort of with scott, but then you start to look the a the two players in ukraine. you've got ukraine backed by the entire european union and the united states and russia, the gigantic bear that has bared its claws. i'm wondering why that doesn't get the credit for pulling this down when you know that vladimir putin is not going to have any interest at all in striking a deal? >> well, we've seen this game already over the summer. it's weighing the market. dax down 2%, euro down 2%, but it's a combination, it's all at once. we have that situation, we have greece, and you know, then as
well there's isis, there's china, imports. so everything is coming at once and the rate hike possibilities on top of that on not such a great nonfarm number. the levels at all-time highs, it's weighing on the market and it's hard for buying and stepping in at this level. liz: maybe buyers should. this is only down 2/3 of a percent for the dow jones industrials and then you look the a the winners and oil shows a real leadership. i love this, citigroup comes out and this guy, he comes out with a report today and says, oh, this move of 9% over the past three days is a head fake. in fact, oil could hit $20 a barrel. do you believe that? is there validity to that? >> i think that's wishful thinking, $20 crude. i think we're near the bottom and the cracks look good so they're strong and demand for the product. so, i think that-- i even thought at one point it looked like we'd jump to $55. we settled higher, the last hour of the day, some things were trading technically.
we're going to be range bound for a while. and 47 to like 55. i think more towards the upper end, i think, going forward in the next couple of weeks. there is cold weather and geopolitical things, even though the china thing could wear on it a little bit, the market has come off and i think we drift to the $55. >> i think that scott makes a perfect point here. you have the chinese seeing drops in both exports and imports. folks, this actually means that their consumer is not dead in the water, but kind of paralyzed at this point, right, scott? weren't they the big consumers of our stuff? >> they've been consuming our stuff for quite some time. every time you see a slowdown, you get a little concerned. at this point it's like a planned world, every time it's slower, people think the pboc is going to jump in. that's probably why oil is drifting or may not have sustainable above $55. i think the low is in and i don't think that we see the
20's, but obviously, anything could happen. liz: yeah, i thought that was a pretty gutsy call by ed morris says this is a head fake, this 9% move in crude. i want everyone to stay tuned. liz ann sonders of charles schwab is coming up and everyone in the world is saying the u.s. is the best investment area, but now maybe they need to look elsewhere. she's going to explain how to pick countries, where to invest, but do you see any slows to emerging markets lately or at least to europe? >> well, right now, i see the u.s. is by far the best. right now, as well, the stock out there, it's a large stock that's been around and we've seen perform in up and down markets. those are the ones you want to stick with and paid to watch. and i think the things like the russell, the emerging markets here in the u.s., they're having a little bit of trouble at the all-time highs for them and again, i think that's one of the reasons why a little bit of a pullback is due. 3% from the highs and 4% from the highs and it's going to
bring in a great buying opportunity. you've got to watch on the worries from china. we thought that some of the bottom was in from china. i think it's going to weigh in on the market as the week develops and we'll have a the jobs numbers. liz: i want everyone to watch that. jolts is important, job opens and closings. a number not enough people pay attention to. love your perspective, see you next time. here is something you cannot miss. coming up in the next hour, dallas federal reserve president richard fisher joins david asman and me for an exclusive interview you need to hear what he had to say about the economy, fed policy right now, so much more. you know, maria bartiromo had charles plosser on today. he made big news. you've got to hear. we've got the fed people on today on fox business. they tend to move the markets the most. stay tuned, that's on after the bell. and under intense scrutiny of
not just international regulators ow the u.s. justice department because of a stockpile of secret bank files, shows that hsbc helped wealthy customers, weapons deals and-- so what? apparently they were helping them to avoid taxes and hide assets from international tax authorities including the united states. this should infuriate you if you pay your taxes. joining me now for latest on this scandal and potential implications is fox business's rich edson. what else have you learned that should infuriate people, rich? >> u.s. investigators tell us they're still looking into the hsbc. the documents show hsbc show them in behavior, tax evasion, money laundering and arms dealing. and according to the association of journalists say the leaked documents show they helped clients hide taxable
wealth from authorities worldwide. a former hsbc computer analyst who took it data from the bank in 2007 and gave it to the french government. the documents reportedly detail $100 billion of more than 100,000 clients in more than 200 countries, including government officials, saudi royalty, businessmen. and they began overhauling the swiss operation in 2008 and claim the quote, closure about historical business practices are a reminder old business model of swiss private banking is no longer acceptable. a top democrat on the senate banking committee, sherrod brown, says if the charges are true the same institution first caught violating u.s. sanctioning laws and laundering money for mexican cartels could escape promoting widespread evasion of u.s. tax laws. i intend to press the irs and others for answers. and the hsbc is not off the
hook on tax evasion, the tax division has been investing hsbc for several years and that investigation continues, liz? >> well, listen, when the rest of us are paying their taxes, it's not cool to see that, but there are whistleblowers out there. very interesting to see what it revealed. rich, thank you very much. we've got the closing bell ringing in 50 minutes and we're halfway through earnings season. listen to our next guest, just a couple of weeks ago she was on. she made all kinds of predictions and really, she made three predictions. boy, had you listened and moved on her news, she could have made-- you could have made a pretty penny investing in the sectors she predicted would do well. which companies does christine say will knock it out of the park next. and the golden boy of boxing, and promotion sets his sights on his own tv channel. oscar de la hoya goes from boxer to business man.
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>> let us give you a stock alert here. it's the closing bell, it's going to ring in about 45 minutes. we have the only three names on the screen in the green. caterpillar, chevron and general electric, which is interesting to see chevron up nearly a dollar and yet, exxonmobil flat on the session pretty much. it's not halftime at the super bowl with katy perry, but halftime in the season and on a business network, that's geek super bowl. 317 companies in the s&p 500 reported their fourth quarter earnings. so, which stocks and which sectors have seen the biggest blowouts and busts and what lies ahead for the second half? here with me now, and the reason we brought you back, christine, is 'cause you were smart on the money the first time around. it was just ahead of the fourth quarter numbers just a couple of weeks ago, this is christine short. let's talk broadly about the earnings season. give me one word to describe all the numbers are coming in? >> i think the number or the
word i used was lackluster because we're seeing a lot of beats, but the overall growth rate which is 6.6%, the estimated concensus, is due from a handful of beats from big companies. mainly i'm talking apple. the largest company within the index. that 6 of.6 figure drops to 3.5%. liz: so one boat-- apple was the tide that raised more of the boats? >> right, it's a huge company. whichever way it goes it pulls the index in that direction. 6.6% is a little misleading at this point. it's not a terrible number when you consider the last two quarters, revenue close to 5%, and this quarter 2%. liz: what happened? by the way, your estimates are much tougher than the street's. >> well, you know, we include our estimates are higher. we're not just include the sell side, but the buy side, academia, students, et cetera. when you have a more representative growth rate we've found the numbers are
higher because we know the side drop so the companies get a beat. not as many companies are able to beat our estimates. what's happened. a lot of the companies found the stronger dollar affected them more than anticipated. >> let's talk about that, 20 major companies reference the strong dollar. >> a fifth of the companies referenced that as a problem. >> i don't mean to be mean or judg judgemental, but others are completely taken by surprise. >> what we've found is u.s. companies are not immune to global weakness. they're going to see an impact here, however, the well-managed companies can offset that weakness. liz: here is where your score cord jumps off the page. you said weeks ago, health care, specifically biotech is going to do extremely well. it's knocked the skin off the ball. >> it performed the way we thought it would be, health
care profits are up 23%, top line 10%. a lot of that is driven by biotech, gilead sciences, and however, they did mention some headwinds going forward and they're getting more competition. >> so the three names there are gilead, advy. and we put them up on the screen. and three picks. i.t., which was not one of your picks, but has done well. >> apple mostly. liz: when you look at this, apple, facebook and twitter look like they might do well in the current quarter. >> twitter is the only one not a part of the s&p 500 index. when we look at them they came in 6 of cents higher than our estimates which is a little high. facebook, that social media company show they can continue growing. liz: they're growing. >> and the u.s. market is a little saturated there, there are questions around with are they're growing, but still doing well. liz: as we flip over to industrials, which you had also
flagged as a winner three weeks ago. indeed, they've done well. your picks are boeing, southwest and expedia. how is expedia an industrial? >> oh, no, expeditors. liz: i had it written here expedia. never mind. >> industrials were expected to be the third strongest sector right now. they dipped down a bit because you have caterpillar and 3m, large companies missing the bar again due to a stronger dollar, but then you're seeing there's no excuses. boeing is able to beat and southwest, benefitting from lower oil an and expeditors is the last company to report. not doing as well. ups and fedex looking for those next week. liz: we'll put christine's picks, including expeditors. so thank you. christine short. she has a tougher bar to clear than the street. she takes into account issues
that sometimes others don't. the closing bell ringing in 40 minutes. pay cuts hitting a major bank. which one? charlie gasparino has where the paychecks are getting smaller and how employees are reacting. he won fame and fortunate in the boxing ring and now oscar de la hoya is fighting in a much bigger ring, tv. we'll have him here live. ♪ ♪
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country is making a change in the way it pays its financial advisors. employees are-- whenever there's a change in the way employees are paid, how is the change? >> 2015, we should point out morgan stanley is the biggest brokerage firm, 16,000, so it deals with millions of investors out there. james gorman has done a pretty good job transforming this firm from a firm that took risk into a brokerage business. every firm is coming under cost constraints, particularly when they deal with compensation and now that compensation, cost con straining is enacted on the stanley brokers, here is what we hear, 6 to 1% of the brokers paid is now deferred for up to eight years. so that means a chunk, a pretty good chunk of brokers compensation. you have to stay at the firm for eight years to get it. there is, i guess, the best way to put it based on the conversations we've spoke with
multiple people, a revolt going on inside morgan stanley. will they go to other firms? possibly. morgan stanley will tell you this deferred compensation plan is keeping it in line. keeping the broker compensation plan in line with the rest of the industry. the people inside morgan stanley say, the brokers, that it's more owners than say at meril or-- >> what if they get fired before the eight years is up? you lose what you've gotten? that's my first question. i don't like that. pay me for the work i'm doing now. >> we should point out, ubs, wells fargo, merrill lynch defer, pay to a lesser extent than morgan stanley is doing now. they're bringing it in line. deferred compensation is something that the street is doing. why is it doing it? not just brokers. liz: it's incentivizing. >> thinking long-term, crank out as much profit as you can. many think that the short-term thinking led to the financial
crisis. liz: maybe, but who is to say? as long as they can be assured that they won't be summarily fired five minutes before the contract is up. >> some are on pay plans, to jump from one firm to another, they give you an upfront bonus. that upfront bonus is given in a forgivable loan that spans several years, you get it, that's a contractual right, but i don't know if bonuses are deferred are necessarily a contractual right. something we have to ask them. but the handcuff of locking in for eight years, brokers at morgan stanley are saying that's longer than merrill and some of the other firms. morgan stanley says it's bringing them in line with some of the other ones. liz: eight years? i don't know what's happening next tuesday. >> i will say -- okay, you want to go to merrill? that's fine.
merrill has got its own problems. you talk to the brokers at merrill, working at a bank, for a bank where you've got to sell the crummy bank products is not a walk in the park. a lot of brokers at merrill are rebelling. and ubs is a small brokerage firm in the middle of an investment bank that's whittling down. the grass is greener on the other side. we'll see if it leads to it. i can't see brokers at morgan stanley moving to merrill, which is owned by bank of america, where they have to sell like the-- >> how about this? be grateful for the job. a little bit of that. >> clearly, there's something going on besides morgan stanley. we don't want to make light of it. the brokers there are up in arms. it's a big issue internally. >> we should point out that greg fleming runs the brokerage department and james gorman, ceo comes from merrill lynch's
brokerage department. smart guys, but they have the work cut out for them keeping people in line because, i tell you, this is the stuff that leads to people leaving. my only caveat about people leaving, you know, you're going to go to merrill? >> or you go to a hedge fund or private equity. >> brokers. liz: good point. >> it's not that-- >> start your own business. >> i guess so, you can always sell herbalife shakes. by the way, so you know, say what you want to herbalife, but liz and i -- i don't know about you, i got through davos and some of the food there is a little rich for my taste. liz: me, too, yeah. >> i got through davos with herbalife protein bars and i worked out every day. liz: and a production assistant read that and said, liz, i'm offended that you and charlie don't like our food. i said don't-- >> i'm weird about food. liz: very weird about food and we don't like our guests being threatened.
we don't like our guest-- >> don't talk to liz and charlie, really? that's what the-- >> and i approached the gentleman and put that in quotes, who said the threatening e-mail or whatever they were, correspo corresponde it's not like i didn't approach him, i asked him why he did that. liz: because you're a reporter. >> i made sure he into you what we were going to do. liz: thank you, charlie and we're here today. lots of guests, including an exclusive with oscar de la hoya. >> really? is he in the studio? >> too bad, he's in los angeles. he's an amazing business man, charlie. you should stay tuned for that. the closing bell 30 minutes away. we talk about oscar in a second, but despite some of the international turmoil, is it time to invest elsewhere on the globe where there is little bit of turmoil? remember, risk versus reward? that's what charles schwab liz ann sonders says exactly where
you might be interested in looking. and the aforementioned oscar de la hoya, go, go, go stepping into the ring, not the one you think. coming up a fox business exclusive with boxing golden boy on his latest adventure. >> that was sugar ray leonard. liz: charlie, how do you think he would handle cnbc threatening him? >> he's a good looking guy, but, a really tough fighter. liz: and a tough businessman, too. stay tuned.
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into pretty much a full-fledged shutdown. now the ports are open again, for how long? inventory is getting thin. >> hi, liz, it was a shot across the bow this weekend as west coast port operators essentially locked them out. the maritime association decided to stop all loading and unloading, shoremen are paid overtime and time and a half. the spokeman says after months of union slowdowns it makes no sense to pay extra for less work. management accuses the union of slowing the work way down as a negotiating tactic. the union contract expired in july and they began moving half the amount of containers in a
delay. an average cost of $82,000 a year, they pay no health care premiums, no co-pays, one local union president took to youtube last night to blast management. >> the company's latest move to scare the workers is to stop weekend work. this is removing 48 hours of potential production adding to the crippling congestion caused by manage yal errors. >> and businesses are caught in the middle and seen the effects from a water bottling company in hawaii has to slow down because they're not getting bottles and wine makers in napa valley can't get corks. and losing food processors in asia, not able to deliver their orders on time and apple growers can't get their apples to asian markets. the ripple effect would be seen across the country. 12% of the country's gross
domestic product is moved through west coast ports, that's worth $2 trillion annually and 9 million jobs nationwide. the last strike on the west coast port was 2002, a 10-day lockout that cost the u.s. economy billions of dollars. liz: i want to ask you, the video we saw the beginning of your report was taken that today, that of guys working so there's activity today? >> there's activity today, correct. they had a weekend they locked out the port workers who were taking containers on and off of ships, so they're back operating today and 50% of normal capacity. they're back at work. >> good it, thank you. let's head to the national retail federation, they're warning that a full port shutdown could cost our economy $2 billion a day. joining us now on phone,
jonathan gold, from the u.s. supply chain. you must be going nuts? >> we've been going the past couple of months for the issue. liz: let's get to the issue. retail arguably getting hit the hardest. they can't get, i guess, all of the inventory they need to fill the shelves. because we've been so advanced technologically, pretty much a lot of companies are in just in time inventory stage, so if they can't get those cargo boxes unloaded, it's a huge issue. >> liz, that's correct. this is hitting everybody across the board, not just retail, but manufacturers relying on production, or agricultural orders that have goods rotting on the docks or the farms because they can't get products overseas to layer markets. this is on every industry that relies on the port. liz: i know you probably don't want to take a side. is one side more at fault than others, the longshoremen and warehouse workers and then the operators of the terminals. to me it looks like two
monopolies here. >> unfortunately, there's a lot of blame on both sides. we've seen the finger pointing and they've put out documents to show what's been happening. they keep happening back and forth. from our perspective we've had this for nine months now-- >> how do we do that? you've got to call in the president. you've got to call in, i guess, administration negotiators? >> you know, they had a federal mediator has been with the party since early january. we thought that would help the parties get to an agreement. issues are coming up and we're not sure. >> we're showing video of this and i know that people who wear suits, not saying you, but people who wear suits are habitually disinclined to support unions in any way, but when you look at the cranes, that's a skill. to take the claw, you pick up heavy things and it's something that has to be very, very skillful here. it's not a safe job and i really want to see this thing
and very interested to see how it comes to an end. it seems you need the president or somebody to get involved. please keep us posted. boxing's golden boy, oscar de la hoya's latest fight is outside of the ring, taking boxing and martial arts afish-- afficianados behind the scenes. oscar de la hoya is with us now with an exclusive look into your channel. hi, oscar, thank you for joining us. >> thank you for having me. liz: this is interesting, and it's not going to be easy because watching a channel in a very crowded arena is something that takes guts, which we know you have, but talk about what's going to be on the channel. >> absolutely.
de la hoya tv is another business venture that i'm obviously, no pun intended, you know, facing with gloves on. i'm really excited about this because, you know, over the years i've had a career that spans over 20 years inside the circle, and we were able to generate more than 19 million pay-per-view buys. we generated roughly close to 700 million dollars in pay-per-view income. liz: wow. >> and so, what we -- what we-- the idea behind de la hoya tv, boxing right now with mma is so popular when it comes to the hispanic consumer, as you know, we have 50 million plus
hispanics living in the u.s. and so we not only want to show you fighters and fights and boxing, we want to take you beyond what happens in their everyday life behind the scenes of a special event in las vegas. so, it's de la hoya tv beyond boxing. liz: listen, i'm cheering you on and fox is one of your partners, which is great. but we put up your competitors out there. espn has a spanish language channel and univision as well. let me be the first to tell you that competitors will scratch your eyes out. they will threaten anybody who comes on your channel. we have experienced this with our competitors, cnbc. charlie gasparino and i were just talking about it and it's not an easy thing, especially when there is a very crowded tier of channels.
how are you going to fight those competitors and espn is one of those. >> de la hoya tv is not a competitor. fox sports one is our partners,en univision, and espn the giants in sports. what de la hoya tv is actually going to enhance what fox sports one already televises. what we want to do is go behind the scenes of leading up to these big major fights, whether it's h.b.o., h.b.o. pay-per-view or showtime. we want to take you up close and personal and when they train for the incidents, a manny packoio, and shows these
fighters. >> you're like oprah and now you have day la roya tv. congratulations, and come back when you launch officially. it's not an easy thing to grab at, but you say 20 million households by the end of the year. good luck to you, oscar. >> thank you. liz: and come back to us when you're in new york. >> gracias, i will. liz: did you see the vix today? it's up significantly. now is a good time to take your money abroad. and coming up next, investing heavy weight liz ann sonders on where to put your money now. it's a fact. kind of like shopping hungry equals overshopping.
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>> yeah, you could say the fear seems to be creeping back into the market today. earlier, the so-called fear gauge or the vix volatility index had a one-week high. and spiking about 7% at the very moment. my guest's firm has 2 trillion in assets, says volatility, get accept taance of it and buckle for a bumpy ride and invest in appropriate places. why it might make sense to shift your money abroad. lizzie, great to see you. right off the bat, i have to ask you, you're a little less bullish on the u.s. not that you're negative about it, but what about your negative feelings creeping into the picture? >> you're right i still think we're in a secular bull market in the u.s., could be an environment not dissimilar what
happened in 1998. you entered into volatility, several mini crises and eruptions and that might be the environment we're in right now. by no means would we suggest abandoning the market in favor of overseas markets. it's such a biased market, that first year maybe the first in several where global diversioncation actually pays some dividends. a lot of it has to do with global central bank policy and the divergences thereof and the u.s. headed to initial rate hikes and tothers opening the flood gates. liz: why not go to where you see that behavior and that be would, i'm guessing europe because mario draghi announced he would start to stimulate that way. japan. how do you suggest that people pick countries that are best
suited for that opportunity, liz ann? >> outside the u.s., actually, we like emerging markets better than some of the other developing markets. within emerging markets, to the extent you can take a differentiated approach or a tactical approach you want to be sure you're on the consumption side of commodities than production side of commodities for many reasons. europe is potentially interesting. we're certainly at a monetary policy inflection point. the problem is that one of the structural problems that plague europe cannot be solved through monetary policy alone. you need major reforms, not the less being market reforms. so if we start to see some of that, the reform type of agendas like india, that might make europe more interesting. until you see the financials perform better there, to get a sense that really we're seeing the credit opening back up, it may be too early for europe. >> i want to drill down on what you mean, consumption country versus production countries. i'm thinking a production country would be a brazil or
australia where they have a lot of natural resources this-- they're producing. >> the united states is a consumption country, and when you get a big move down, if you're not a big producer or an exporter, you tend to be on the receiving end of that. and if you just, for instance, take the big four nations within the emerging markets, the bric's, brazil, russia, india and china. in general consumption orientation, in light of this finale that's going to come out of the supercycle we think began in 2011, makes sense. liz: liz ann, there are so many people deciding and arguing whether low oil prices are good or bad? i'm of the belief net-net it's a good thing. the consumer is a bigger group than the actual producers and the companies. there really aren't that many oil workers in the nation as they stack up against others in
the services industry, so it's much better that oil price is lower. how do you see that? >> i agree with you, but you can -- they're sort of, i've been joking and saying the net effect is a positive, but the growth effect in the short-term isn't necessarily all positive. we know the hit to earnings within the energy sector, akin to where i started in this conversation talking about '97, '98, remember, a big move down in oil prices that caused the problems in russia and the currency crisis at the time. so there's a little bit of angst associated with that and concerns about energy exposure in the high yield market and then the capex story, a positive story for 2015. when you tend to see a big whoosh down in oil prices, it elongates the recovery for capital spending. even though capex is a percent of the total. you don't see the lift in total capex until of after the oil bottom. >> you want to go to production
for countries. liz ann sonders, charles schwab investment strategist. nice to see you. >> thank you. liz: we're off the session lows, can the market claw back more in the crucial last minutes of trade? just, it's a can't-miss interview. dallas fed president richard fisher with david asman on everything from unwinding the fed's more than $4 trillion balance sheet to whether greece should even be allowed to look at the bailout package. richard fisher, it's a fox news exclusive next. so what about that stock? sure thing, right? actually, knowing the kind of risk that you're comfortable with,
. liz: while we're off the lows, we have the headlines from greece and ukraine pulling us down today, david. david: yep, there is question whether earnings have to take a back seat to questions about what's happening overseas. we're going to go into that with our guest. liz: good action in the markets, off the lows. still down, let's head to nicole and the new york stock
exchange. oil ending higher for the third day in a row. >> reporter: that's amazing, that is the glint of hope where we saw strength and the energy names to go up along with it in the after-hours, 52.88. we saw it gaining and took the energy names up along with it which took the spotlight off the foreign issues that you mentioned. david: alcoa is no longer part of the dow but a bellwether. >> reporter: big downgrade at jpmorgan. jpmorgan talks about aluminum fundamentals and despite the fact alcoa tried the cost cutting and the like. the stock is down 5.5% for the aluminum maker. that's a big move. liz: the airlines flying lower today. >> reporter: that comes as no surprise, liz, they have the inverse relationship as oil continues to gain. it's tough for the airlines, and so oil goes up, the airlines sink, and some of the names are up 100% in the last
52 weeks, jetblue and southwest pulling back. david: as we are looking at, it was a triple-digit loss in the dow, now a double-digit loss. liz: here come the bells ringing monday on wall street, and after that, look how stocks finish up. when you see that the dow jones industrials is down give or take 97 points. at one point we were down 114 points in the last hour, a little bit of coming up off the floor. the s&p down 8. it was a lot worse earlier, down half a percent. the russell down nearly a full percent on the day, when it was the international news that grabbed the spotlight. let's get to it. "after the bell" starts right now. . david: so much action going on, we haven't had a chance to show you some of what's coming up on the show. you don't want to miss our exclusive interview with dallas fed president richard fisher.